Black market refers to stock trading outside the Italian market. Because these transactions are not public and will not be disclosed by the stock exchange, these "dark" transactions are called black markets. However, the dark price does not fully reflect the market demand, and the transparency of buying and selling is not high, and dark trading will also incur some risks.
Basically, whenever a buyer puts forward a price and the number of shares he wants to buy outside the market, the price offered is already a dark offer, regardless of whether the seller accepts his purchase. Because the dark price fluctuates with the market, if the market demand is far greater than the supply and demand, the dark price will go from bad to worse. On the contrary, everything goes against the trend.
(dark trading is common in IPOs. ..
In dark trading, people who sell stocks in dark trading mainly think that the stock price of new shares will be lower than the dark trading price after listing, so they sell goods at high prices and earn the difference profit. On the contrary, buyers are optimistic about the performance of new shares, expecting the share price to be higher than the dark price, so they are willing to ask for goods at a higher price.
Take the past market situation as an example. Before the IPO is officially listed, the trading activities in the form of dark plate will be more frequent. Take IPO as an example. In the case that the number of shares publicly issued is less than the market demand, people who apply for new shares need to draw lots to decide whether they can subscribe and how many shares to subscribe for. If individual institutional investors or speculators intend to buy a large number of unlisted new shares, it will be difficult to do so under the above lottery method. To this end, dark trading came into being, which is convenient for buyers and sellers to trade over the counter.
(3) Dark market affects the stock price trend. ..
Due to the influence of market demand and market conditions, investors should pay attention to the price of secret offer before subscribing or trading new shares. If the secret bid price is much higher than the subscription price, then the winner of the subscription of new shares will greatly increase, as long as you are selected. Take Beijing Holding (0392) as an example, the offer price of the stock at that time was 12.48 yuan, but the dark offer price was more than double the offer price. Due to the high dark price and oversupply, the stock closed at 40.2 yuan on the day of listing, a premium of 322% over the issue price. Therefore, according to market practice, the dark price has a certain degree of influence on the trend of new shares, and investors will use it as an indicator of the trend of new shares on the day of listing.
On the contrary, if the market is weak or insufficient, investors' interest in subscribing for new shares will be greatly reduced. When the supply and demand exceeds the demand, it is forbidden to use the dark price as the trend indicator of the stock.